A voidable preference includes:

A. Any payment made to a creditor after the petition is filed. B. Any payment made within 90 days before the petition is filed. C. Any payment made within 90 days before the petition is filed, for a preexisting debt, if the creditor receives more than he would under the bankruptcy laws. D. Any payment made within 90 days before the petition is filed, for a preexisting debt.

How far back in time can the trustee look to recover a preferential payment?

A. 90 days for all creditors. B. One year for all creditors. C. 90 days, unless intent can be shown, in which case the period is extended to one year. D. 90 days, except for insiders the period is extended to one year.

What is true about voidable preferences and fraudulent transfers?

A. They are two terms to describe the same type of transaction. B. Intent to defraud must be proven for both types of transactions. C. A voidable preference may have been a legitimate business transaction, but a fraudulent transfer requires proof of intent to defraud. D. Any transaction of either type within one year of the filing of the petition is subject to action by the bankruptcy trustee.

An entrepreneur can form a business with only one owner under which of the following:

A. General partnership. B. Corporation. C. Limited partnership. D. Limited liability partnership.